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Landore Resources Ltd on Monday said it has completed the corporate reorganisation of its wholly-owned subsidiary Landore Resources Canada Inc and its majority-owned interest in Lamaune Iron Inc. The North American-focused precious, base and battery metal exploration and development company said Landore Canada and Lamaune were amalgamated into a single company, which now operates under the name Landore Resources Canada Inc, which is wholly owned by Landore Resources. The firm said the purpose of the transaction was to arrange all assets of Lamaune and Landore Canada, which are contiguous to each other at Landore’s Junior Lake property, under one corporate entity. Together, Landore’s wholly-owned Junior Lake property and the adjoining Lamaune Iron property comprise a 32,768-hectare land package. The transaction was approved by Landore at a meeting of Lamaune shareholders held in July. Public holders of Lamune’s shares will receive around 0.16 Canadian dollar cents in cash per share, totalling C$95,281, or £51,569, in total. ‘I am delighted to announce the completion of the amalgamation between Landore Canada and Lamaune, which simplifies the corporate structure of our Canadian subsidiary as majority owners of Lamaune,’ said Landore Chief Executive Officer Alexander Shaw. ‘The Lamaune Gold prospect will add further ounces to Landore’s gold inventory making it a highly attractive and exciting exploration target and will provide additional options when developing [the BAM gold project].’ Shares in Landore Resources were down 0.6% at 4.13 pence on Monday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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